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South Africa’s Procera Receives $18.8 million in Funding from Vantage Capital

By Oluchukwu Ikemefuna

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Procera Group, a South African based company, has secured $18.8 million (R346 million) from Vantage Capital, an African fund manager.  With this new investment, Procera can take its business services into the global market. 

Procera

About Procera Group

Procera Group, a debt recovery solution provider, is an integrated BPO service provider that renders support to its clients through various brands. The group was founded in 1990 and is on a mission to offer services to both local and international customers. 

The BPO company has over 50 local and international clients in different sectors. The sectors include retail, financial services, telco and energy. The company has made an impact in several nations, such as Namibia, the United States, Australia and the United Kingdom.

The company is spreading across the world and has about 2,700 employees. 

Before the funding, the company invested in its infrastructures, such as contact center software, generative AI, predictive analytics and omnichannel communications.

With the funding, Procera can invest further and enhance its customer experience and, consequently, its efficiency. 

Advantages Of Procera and Vantage Partnership To The South African Economy

Roshal Ramdenee, the Associate Partner at Vantage Capital, expressed his delight in the investment. He noted the partnership was a good one, as Procera has a great management team. 

Additionally, he said, “Vantage sees a tremendous opportunity for both job creation and the positive economic impact as Procera continues its rapid international expansions. This drives market-leading technological solutions in the BPO space.”

South Africa is consistently ranked in the top two BPO locations globally, driven by different factors. Factors such as customer experience, an empathetic English-speaking workforce, and cultural affinity have ensured the country gets highly ranked. 

The other factors that drive the country in the BPO space include various source markets, a favorable time zone, and abundance of youth talent. 

Conclusion

The South African BPO market is predicted to achieve a 13% CAGR over the next five years,, ahead of global growth forecasts for the sector of 8.5% CAGR. Sustained global growth is driven primarily by corporations seeking to effectively manage costs and streamline business functions.

Warren van der Merwe, the Managing Partner at Vantage Capital, stated, “It is rare in the current economic environment to find fast-growing South African businesses. Also, ones that are truly competitive in developed markets. However, Procera’s founders, shareholders and management team have built an admirable business to date. And we are excited to invest into Procera’s next stage of growth and development.”

Additionally, Chairman of Procera, Crispin Sonn, said, “We are pleased to have the long-term support of Vantage. We also appreciate its team of seasoned investors as we look to grow Procera’s business services footprint into international markets.”

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Abdullahi Kafayat
Abdullahi Kafayat

Abdullahi Kafayat is an enthusiastic writer interested in the tech world. She's a graduate of Obafemi Awolowo University and has a BSc in Chemistry. You can reach her at Kafayatabdullahi17@gmail.com.

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